IMPERIAL CAPITAL BANCORP, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
1-33199
|
95-4596322
|
||
(State or other jurisdiction
|
(Commission File No.)
|
(IRS Employer
|
||
jurisdiction of incorporation)
|
Identification Number)
|
888 Prospect Street, Suite 300, La Jolla, California
|
92037
|
|
(Address of principal executive offices)
|
(Zip Code)
|
|
(Former name or former address, if changed since last report)
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
EXHIBIT
NUMBER
|
DESCRIPTION
|
|
99.1
|
Monthly Operating Report for the month of February 2012.
|
|
IMPERIAL CAPITAL BANCORP, INC. | |||
Date: March 29, 2012
|
By:
|
/s/ Anthony A. Rusnak
|
|
Anthony A. Rusnak
|
|||
Chief Operating Officer, General Counsel
|
|||
and Secretary
|
EXHIBIT
NUMBER
|
DESCRIPTION
|
|
99.1
|
Monthly Operating Report for the month of February 2012.
|
|
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF CALIFORNIA
|
In Re:
IMPERIAL CAPITAL BANCORP, INC., a
Delaware corporation
Debtor(s).
|
CHAPTER 11 (BUSINESS)
CASE NO. 3:09-bk-19431
OPERATING REPORT NO. 27
FOR THE MONTH ENDING:
FEBRUARY 2012
|
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
3. |
BEGINNING BALANCE:
|
$ | 0.00 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 0.00 | |||||
OTHER** (SPECIFY) Refunds
|
$ | 0.00 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 0.00 | ||||
5. |
BALANCE:
|
$ | 0.00 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 0.00 | ||||
DISBURSEMENTS
|
$ | 0.00 |
TOTAL DISBURSEMENTS THIS PERIOD***:
|
$ | 0.00 | ||
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, CA 94520-2445
|
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
Balance per bank statement dated: 02/29/12
|
$
|
0.00
|
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Check Number
|
Check Date
|
Check Amount
|
||
|
|
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 9,896,041.00 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 9,786,351.79 | ||||
3. |
BEGINNING BALANCE:
|
$ | 109,689.21 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 0.00 | |||||
OTHER (SPECIFY) Account refunds | $ | 0.00 | |||||
OTHER (SPECIFY) Transfer from money market account
|
$ | 631,492.46 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 631,492.46 | ||||
5. |
BALANCE:
|
$ | 741,181.67 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 14,792.28 | ||||
DISBURSEMENTS
|
$ | 642,488.29 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 657,280.57 | ||
7. |
ENDING BALANCE:
|
$ | 83,901.10 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, CA 92121
|
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
02/23/12
|
1135
|
Multi-State
|
Real property title reports
|
1,400.00
|
02/09/12 | 1366 | Epiq Systems | Solicitation services |
8,857.75
|
02/09/12 | 1372 | 888 Prospect LJ, LLC | Office rent |
5,205.13
|
02/08/12 | 1373 | Ace Parking Management | Parking services |
125.00
|
02/09/12 | 1374 | Public Storage | Storage services |
227.00
|
02/10/12 | 1375 | Verizon Wireless | Telephone services |
125.71
|
02/09/12 | 1376 | Time Warner Cable | Internet services |
390.90
|
02/13/12 | 1377 | Freedom Voice | Telephone services |
183.11
|
02/15/12 | 1378 | U.S. Trustee | Quarterly trustee fee |
4,875.00
|
02/13/12 | 1379 | Takeo Sasaki | Consulting - accounting services |
1,416.00
|
02/23/12 | 1380 | Stutman, Treister & Glatt | Legal fees |
73,302.40
|
02/23/12 | 1381 | Stutman, Treister & Glatt | Legal fees |
168,333.72
|
02/24/12 | 1382 | Silver, Freedman & Taff | Legal fees |
7,904.40
|
02/24/12 | 1383 | Silver, Freedman & Taff | Legal fees |
3,402.03
|
02/21/12 | 1384 | Ernst & Young | Auditing services |
9,382.00
|
02/21/12 | 1385 | Ernst & Young | Auditing services |
96.00
|
02/24/12 | 1386 | Epiq Systems | Solicitation services |
4,872.50
|
02/24/12 | 1388 | Epiq Systems | Solicitation services | 3,737.88 |
02/28/12 | 1389 | FTI Consulting | Auditing services | 11,888.90 |
02/28/12 | 1390 | FTI Consulting | Auditing services | 25,622.06 |
02/22/12 | 1391 | Akin Gump Strauss Hauer & Feld | Legal fees | 116,364.80 |
02/22/12 | 1392 | Akin Gump Strauss Hauer & Feld | Legal fees | 193,235.06 |
02/22/12 | 1393 | Time Warner Cable | Internet services | 191.90 |
02/22/12 | 1394 | Mellon Investor Services | Stock transfer agent | 130.85 |
02/27/12 | 1395 | Freedom Voice | Telephone services | 187.61 |
02/23/12 | 1396 | Ostari Inc. | Computer and copier maintenance | 300.00 |
02/28/12 | 1397 | State Compensation Insurance Fund | Workers compensation insurance premium | 520.58 |
02/27/12 | 1398 | Mary Jane Mulson | Janitorial services | 210.00 |
Balance per bank statement dated: 02/29/12
|
$
|
83,901.10
|
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Check Number
|
Check Date
|
Check Amount
|
||
|
|
|
||
Total outstanding checks
|
<0.00
|
> | ||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 83,901.10 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
3. |
BEGINNING BALANCE
|
$ | 0.00 | |||
4. |
RECEIPTS:
TRANSFERRED FROM GENERAL ACCOUNT
|
$ | 0.00 | |||
5. |
BALANCE
|
$ | 0.00 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, California 94500-2455
|
Balance per bank statement dated: 02/29/12
|
$ | 0.00 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 538,292.37 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 537,261.09 | |||
3. |
BEGINNING BALANCE
|
$ | 1,031.28 | |||
4. |
RECEIPTS:
TRANSFERRED FROM OTHER ACCOUNT
(Torrey Pines Bank general and money market account)
|
$ | 14,792.28 | |||
5. |
BALANCE
|
$ | 15,823.56 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
02/14/12 | Payroll fee | NPS Payroll Services | 58.00 |
02/14/12 | Transfer payroll 1/1 to 1/15 | NPS Payroll Services | 2,631.34 |
02/14/12 | Transfer payroll 1/1 to 1/15 | NPS Payroll Services | 4,706.80 |
02/28/12 | Payroll fee | NPS Payroll Services | 58.00 |
02/28/12 | Transfer payroll 1/16 to 1/31 | NPS Payroll Services | 2,631.33 |
02/28/12 | Transfer payroll 1/16 to 1/31 | NPS Payroll Services | 4,706.81 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 14,792.28 |
7. |
ENDING BALANCE:
|
$ | 1,031.28 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, California 92121
|
Balance per bank statement dated: 02/29/12
|
$ | 1,031.28 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 1,031.28 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 30,078,685.06 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 0.00 | |||
3. |
BEGINNING BALANCE
|
$ | 30,078,685.06 | |||
4. |
RECEIPTS:
TAX REFUNDS
|
$ | 0.00 | |||
OTHER - Interest | $ | 9,560.72 | ||||
5. |
BALANCE
|
$ | 30,088,245.78 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 30,088,245.78 | |||
8. |
TAX ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130
San Diego, CA 92121
|
Balance per bank statement dated: 01/31/12
|
$ | 30,088,245.78 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 30,088,245.78 |
GENERAL ACCOUNT - Bk of America
|
$ | 0.00 | ||
GENERAL ACCOUNT - Torrey Pines Bk | $ | 83,901.10 | ||
PAYROLL ACCOUNT - Bk of America
|
$ | 0.00 | ||
PAYROLL ACCOUNT - Torrey Pines Bk | $ | 1,031.28 | ||
TAX ACCOUNT - Torrey Pines Bk
|
$ | 30,088,245.78 | ||
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account
|
$ | 7,080,757.56 | ||
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account
|
$ | 0.00 | ||
OTHER MONIES*:_______________
|
$ | |||
PETTY CASH**
|
$ | 250.00 | ||
TOTAL CASH AVAILABLE
|
$ | 37,254,185.72 |
CREDITOR, LESSOR, ETC.
|
FREQUENCY OF PAYMENTS
(Mo./Qtr.)
|
AMOUNT OF PAYMENT
|
POST-PETITION PAYMENTS NOT MADE (NUMBER)
|
TOTAL DUE
|
888 Prospect LJ, LLC
|
Monthly | $5,205.13 | None | None |
TOTAL DUE
|
None |
GROSS SALES SUBJECT TO SALES TAX
|
$ | 0 | ||
TOTAL WAGES PAID
|
$ | 12,333.34 |
TOTAL POST-PETITION AMOUNTS OWING
|
AMOUNT DELINQUENT
|
DATE DELINQUENT AMOUNT DUE
|
|
FEDERAL WITHHOLDING
|
$ 0.00
|
$0.00
|
|
STATE WITHHOLDING
|
$
|
$
|
|
FICA - EMPLOYER'S SHARE
|
$
|
$
|
|
FICA - EMPLOYEE'S SHARE
|
$
|
$
|
|
FEDERAL UNEMPLOYMENT
|
$
|
$
|
|
STATE WITHHOLDING
|
$
|
$
|
|
SALES AND USE
|
$
|
$
|
|
REAL PROPERTY
|
$
|
$
|
|
OTHER: (SPECIFY)
|
$
|
$
|
|
TOTAL:
|
$
|
$
|
ACCOUNTS PAYABLE*
(POST-PETITION ONLY)
|
ACCOUNTS
Pre-Petition
|
RECEIVABLE
Post-Petition
|
|
30 days or less
|
None
|
None | None |
31 - 60 days
|
|||
61 - 90 days
|
|||
91 - 120 days
|
|||
Over 120 days
|
|||
TOTALS:
|
NAME OF
CARRIER
|
AMOUNT OF COVERAGE
|
POLICY
EXPIRATION
DATE
|
PREMIUM PAID
THROUGH:
|
||
General Liability
|
Hartford
|
$1,000,000/occurrence
|
3/15/12 | 3/15/12 | |
Worker Compensation
|
State Fund | $1,000,000/occurrence | 2/15/12 | 2/15/12 | |
|
|||||
Qtrly Period Ending
|
Total Disbursements
|
Qtrly Fees
|
Date Paid
|
Amount Paid
|
Qtrly Fee Still Owing
|
12/31/09
|
$3,100.00 | $325.00 | 01/29/10 | $325.00 | $0.00 |
3/31/10 | $165,607.22 | $1,625.00 |
04/07/10,
05/13/10
|
$325.00,
$1,300.00
|
$0.00 |
6/30/10 | $260,256.53 | $1,950.00 | 08/17/10 | $1,950.00 | $0.00 |
9/30/10 | $708,521.61 | $4,875.00 | 11/19/10 | $4,875.00 | $0.00 |
12/31/10 | $1,206,199.31 | $6,500.00 | 03/09/11 | $6,500.00 | $0.00 |
03/31/11 | $807,345.48 | $4,875.00 | 05/19/11 | $4,875.00 | $0.00 |
06/30/11 | $658,623.79 | $4,875.00 | 08/03/11 | $4,875.00 | $0.00 |
09/30/11 | $734,784.89 | $4,875.00 | 11/02/11 | $4,875.00 | $0.00 |
12/31/11 | $974,652.89 | $4,875.00 | 02/03/12 | $4,875.00 | $0.00 |
Name of Insider
|
Date of Order Authorizing Compensation
|
Authorized Gross Compensation*
|
Gross Compensation Paid During the Month
|
Anthony Rusnak | 3/11/10 | $148,000/year, plus additional amount in insider compensation request |
$12,333.34
|
Name of Insider
|
Date of Order Authorizing Payment
|
Description
|
Amount Paid During the Month
|
None
|
|||
Current Month
|
Cumulative Post-Petition
|
|||||||
Sales/Revenue:
|
||||||||
Gross Sales/Revenue
|
0.00 | 0.00 | ||||||
Less: Returns/Discounts
|
(0.00 | ) | (0.00 | ) | ||||
Net Sales/Revenue
|
0.00 | 0.00 | ||||||
Cost of Goods Sold:
|
||||||||
Beginning Inventory at cost Purchases
|
0.00 | 0.00 | ||||||
Less: Ending Inventory at cost
|
(0.00 | ) | (0.00 | ) | ||||
Cost of Goods Sold (COGS)
|
0.00 | 0.00 | ||||||
Gross Profit
|
||||||||
Other Operating Income (Itemize)
|
0.00 | 0.00 | ||||||
Operating Expenses:
|
||||||||
Payroll - Insiders
|
13,633.34 | 494,393.77 | ||||||
Payroll - Other Employees
|
0.00 | 128,944.97 | ||||||
Payroll Taxes
|
1,042.94 | 43,260.27 | ||||||
Other Taxes (Itemize)
|
0.00 | 0.00 | ||||||
Depreciation and Amortization
|
0.00 | 0.00 | ||||||
Lease Expense
|
5,205.13 | 145,687.68 | ||||||
Insurance
|
0.00 | 187,184.83 | ||||||
Telephone and Utilities
|
1,079.23 | 23,533.78 | ||||||
Repairs, Maintenance, Janitorial, Office, Plant Service
|
510.00 | 14,602.94 | ||||||
Travel and Entertainment (Itemize)
|
||||||||
Mileage, Parking and Auto | 0.00 | 4,653.30 | ||||||
Meals | 0.00 | 868.42 | ||||||
Airfare | 0.00 | 12,500.00 | ||||||
Miscellaneous Operating Expenses (Itemize) | ||||||||
Insurance - Employees | 0.00 | (136,144.58 | ) | |||||
Salary Savings Plan Expense | 0.00 | 12,223.20 | ||||||
Workers Compensation Insurance | 520.58 | 7,892.99 | ||||||
Parking Services | 125.00 | 9,075.00 | ||||||
Storage and Moving | 227.00 | 13,646.00 | ||||||
Bank Service Charges | 0.00 | 3,993.68 | ||||||
Payroll Fees | 116.00 | 4,117.63 | ||||||
Office Supplies | 0.00 | 485.21 | ||||||
Postage and Shipping | 0.00 | 2,243.81 | ||||||
Dues and Subscriptions | 0.00 | 1,254.00 | ||||||
Employee Expense | 0.00 | (58.05 | ) | |||||
Advertising | 0.00 | (3,200.00 | ) | |||||
Taxes and Licenses | 0.00 | 1,214.00 | ||||||
Fines, Penalties and Late Charges | 0.00 | 2,815.63 | ||||||
Director Expense | 0.00 | 10,000.00 | ||||||
US Trustee Fees | 4,875.00 | 33,155.58 | ||||||
Total Operating Expenses
|
27,334.22 | 1,018,344.06 | ||||||
Net Gain/(Loss) from Operations
|
(27,334.22 | ) | (1,018,344.06 | ) | ||||
Non-Operating Income:
|
||||||||
Interest on Cash Accounts
|
11,913.37 | 259,979.75 | ||||||
Gain (Loss) on Sale of Assets
|
0.00 | 29,384.84 | ||||||
|
Prudential Stock Dividends | 0.00 | 1,332.10 | ||||||
Mark to Market on CSV of Life Insurance Policies | 0.00 | 158,385.18 | ||||||
Income Taxes | 0.00 | 2,703,141.71 | ||||||
Interest on Income Tax Refunds | 0.00 | 588,627.56 | ||||||
Total Non-Operating income | 11,913.37 | 3,740,851.14 | ||||||
Non-Operating Expenses:
|
||||||||
Interest Expense
|
0.00 | 0.00 | ||||||
Legal Expense
|
208,405.18 | 5,545,149.03 | ||||||
Audit and Accounting
|
30,000.00 | 824,500.18 | ||||||
Consulting | 7,546.85 | 190,158.41 | ||||||
Other (Itemize) | 0.00 | (2,872.17 | ) | |||||
Total Non-Operating Expenses
|
245,952.03 | 6,556,935.45 | ||||||
NET INCOME/(LOSS)
|
(261,372.88 | ) | (3,834,428.37 | ) |
Current Month End
|
||||||||
ASSETS
|
||||||||
Current Assets:
|
||||||||
Unrestricted Cash
|
37,254,185.72 | |||||||
Security Deposit Held by Landlord | 30,971.51 | |||||||
Total Current Assets
|
37,285,157.23 | |||||||
Other Assets (Net of Amortization):
|
||||||||
Due from Insiders
|
0.00 | |||||||
Other (Itemize)
|
||||||||
Cash Improperly Withheld in former ICB account
(City National Bank)
|
47,285.39 | |||||||
Residual Interest in Securities | 51,591.98 | |||||||
Investment in ITLA Mortgage Loan
Securitization 2002-1
|
75,000.00 | |||||||
Current and Deferred Income Taxes | 6,989.46 | |||||||
Delaware Franchise Taxes | 99,945.00 | |||||||
Prepaid Expenses, Net | 36,464.00 | |||||||
Interests in Insurance Policies | 441,240.00 | |||||||
Other | 35,873.82 | |||||||
Total Other Assets
|
794,389.65 | |||||||
TOTAL ASSETS
|
38,079,546.88 | |||||||
LIABILITIES
|
||||||||
Postpetition Liabilities:
|
||||||||
Accounts Payable
|
0.00 | |||||||
Taxes Payable
|
0.00 | |||||||
Professional fees
|
0.00 | |||||||
Secured Debt
|
0.00 | |||||||
Total Postpetition Liabilities
|
0.00 | |||||||
Prepetition Liabilities:
|
||||||||
Secured Liabilities
|
0.00 | |||||||
Priority Liabilities
|
0.00 | |||||||
Unsecured Liabilities
|
99,750,746.33 |
Total Prepetition Liabilities
|
99,750,746.33 | |||||||
TOTAL LIABILITIES
|
99,750,746.33 | |||||||
EQUITY:
|
||||||||
Prepetition Owners' Equity
|
(57,741,774.08 | ) | ||||||
Postpetition Profit/(Loss)
|
(3,834,428.37 | ) | ||||||
Direct Charges to Equity
|
(94,997.00 | ) | ||||||
TOTAL EQUITY
|
(61,671,199.45 | ) | ||||||
TOTAL LIABILITIES & EQUITY
|
38,079,546.88 |
1.
|
Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
|
2.
|
Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
|
5.
|
Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE
|
Date: March 20, 2012
|
/s/ Anthony Rusnak
|
|||
Principal for debtor-in-possession
|